From N Mukhopadhyay:
Vide reference “Life Insurance seek clarity on Indian mgmt clause” – The Times Of India, Kolkata dated 22/09/2014 : ” …. on Section 45 of the Insurance Act, which says that no policy can be called into question on the grounds of mis-statement after two years…….”

Dear Manish: Your answer is not transparent. In my view, after 2 years incontestability clause is applicable and hence any unilateral amendment to the terms of the contract/policy is clear violation by insurer. The policy can not be called into question.